21252 Accounting for Managerial Practice
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Subject handbook information prior to 2024 is available in the Archives.
Credit points: 6 cp
Subject level: Undergraduate
Result type: Grade and marksRequisite(s): 21597 Principles of Money and Finance
There are course requisites for this subject. See access conditions.
Description
A knowledge of accounting is critical for everyone engaged in business activities. Business implements plans and strategies through budgets which have the structure of accounting reports. The activities of the business are captured by the accounting system, and these are summarised in accounting reports which are used to support decision making. Accounting provides the financial language used by all commercial, not-for-profit and government organisations.
Subject learning objectives (SLOs)
| 1. | Apply accounting techniques to convert physical business activities to a financial equivalent |
|---|---|
| 2. | Generate financial information on decision alternatives |
| 3. | Create budgets using accounting processes, based on analysis of historical data both operational and monetary |
| 4. | Explain how accounting contributes to planning, controlling as well as performance measurement and evaluation |
Contribution to the development of graduate attributes
This subject adds to student knowledge in the application and use of accounting to generate financial information to support the information requirements of the many stakeholders associated with the business. Will add understanding to the financial consequences of business activity as measured and reported by accounting processes.
This subject contributes to developing the following graduate attribute(s):
- Professional and technical competence
This subject also contributes specifically to develop the following Program Learning Objective(s):
- Apply technical and professional skills necessary for a career in business and related professions, in both Indigenous and non-Indigenous contexts (4.1)
Teaching and learning strategies
The subject is presented in seminar format. Essential principles are presented and analysed and students are lead through practical application exercises.
Content (topics)
- Financial transaction processing and reporting.
- Cost concepts
- Product Costing
- Profit planning
- Cash Budgeting
- Short term operating budgets
- Flexible budgets and performance reports
Assessment
Assessment task 1: Online tests (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 30% |
Assessment task 2: In-class project (Group)*
| Objective(s): | This addresses subject learning objective(s): 2 |
|---|---|
| Weight: | 30% |
| Criteria: | *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 3: Project (Individual)
| Objective(s): | This addresses subject learning objective(s): 3 and 4 |
|---|---|
| Weight: | 40% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Birt, J., Chalmers, K., Maloney, S., Brooks, A., Oliver, J. and Bond, D. (2020) Accounting: Business Reporting for Decision Making (7th ed.), Wiley.